Translation - Chinese simplified-English - 金融危机下对我国上市公司公允价值问题的探讨

From the Americas to Europe and Asia,no nation has been spared the financial turmoil which is sweeping the globe.

The facts show that this time, the shake-up came as a surprise, with the financial assets sector bearing the brunt of its impact. Share values fell right on cue, in a process agonising to witness.

In order to alleviate the damage,national governments responded proactively,each in turn introducing a number of emergency measures to impede the crisis which had already caused funds to reduce considerably.

The fair value accounting standards which had previously been regarded as an effective means to prevent financial risks are,in the present cycle of instability, criticised as “adding insult to injury”, even as an “accomplice” to “kicking a man when he is down”. Confronted with share values in free-fall, our listed companies speak of having reached the limit of their endurance. However, if they manage to break out of this troublesome crisis,they are yet to face the most difficult problem.The text below analyses and summarises the effects of the financial crisis on our listed companies under the “fair value” regulations, and establishes an approach to prevent further crisis situations.